• Strawberry Fields REIT’s 2025 Growth

    by | Feb 20, 2026 3:31 pm | Acquisitions

    Strawberry Fields REIT reported its 2025 operating results, noting that it was the best year since its inception more than 10 year ago. The company posted significant increases in FFO and AFFO, and it completed more than $110 million in several new acquisitions. Its portfolio now includes 131 skilled nursing facilities, 10 assisted living... Read More »

  • Owner/Operator Exits SNF Sector

    by | Feb 20, 2026 3:29 pm | Acquisitions

    An independent owner/operator exited the skilled nursing sector through its divestment of Sunrise Country Manor, which has 80 beds in Milford, Nebraska, and features a mix of private and semi-private units. It maintained an 83% occupancy rate at the time of the sale. A regional operator looking to expand its footprint in Nebraska acquired the... Read More »

  • Assisted Living Providers Join Forces 

    by | Feb 20, 2026 3:28 pm | Acquisitions

    Majestic Residences recently expanded its footprint, adding 17 assisted living communities and six in active development, through its acquisition of Avendelle Senior Living. Avendelle will be integrated into the Majestic Residences platform, with Avendelle’s corporate team retained. The combined organization will operate under the Majestic... Read More »

  • Investor Secures Financing and Acquires Class-A Community

    by | Feb 20, 2026 3:27 pm | Acquisitions, Financings

    BWE’s Seniors Housing Capital Markets Team sold and financed The Capstone at Station Camp, which sits in the Nashville, Tennessee MSA. Built in 2021, the Class-A assisted living and memory care community comprises 100 units in Gallatin. It is operated by TerraBella Senior Living.  BWE represented the seller, Hunt Midwest. The buyer was a... Read More »

  • Multiple SNFs Sell in Separate Transactions

    by | Feb 20, 2026 3:26 pm | Acquisitions

    A large skilled nursing company sold its 181-bed skilled nursing facility to a private investment firm based in New York, exiting South Carolina in the process. The buyer had an existing skilled nursing footprint, and will be leasing this facility to a regional operator. The building was older, built in the 1980s, and was around 80% occupied at... Read More »

HJ Sims Helps Volunteers of America

by | Mar 28, 2017 7:07 pm | Financings

Volunteers of America partnered with HJ Sims to issue $39.73 million in tax-exempt bonds to refinance its 268-unit/bed CCRC in Anoka, Minnesota. Originally built in 2012 with 120 skilled nursing beds and 59 assisted/independent living units, this community added 65 IL units and 24 memory care units to the campus, in addition to converting the 59 AL/IL units to all-assisted living. The borrower is an affiliate of Volunteers of America, an interdenominational church and Christian human services organization that has been in operation since 1896. Series 2011 and Series 2014 bonds financed the development of both phases of the community, and the Series 2017 bonds will advance refund only the... Read More »
Florida CCRC operator receives a $160 million refinance

Florida CCRC operator receives a $160 million refinance

by | Jan 27, 2017 8:29 am | Financings

When the largest operator of CCRCs in the state of Florida wanted to refinance in order to take advantage of the low interest rate environment, HJ Sims was happy to oblige. Presbyterian Retirement Communities, Inc., or Westminster Communities of Florida, with 2,025 independent living, 468 assisted living and 751 skilled nursing units in its portfolio, is not only the largest CCRC operator in the Sunshine State (with nine), but is also the 10th largest not-for-profit operator of senior living units in the country. Founded in 1954, the organization targets the middle income market, with entrance fees ranging from $44,100 to $357,000, and averaging at $120,600. Westminster already worked with... Read More »
Cain Brothers and Pilgrim’s Place

Cain Brothers and Pilgrim’s Place

by | Jan 12, 2017 7:55 pm | Developments, Financings

Pilgrim’s Place, a not-for-profit CCRC in Claremont, California was originally established over 100 years ago, and now is planning a $9 million renovation with the help of a $36 million tax-exempt bond issuance from Cain Brothers. The community has grown over the years to feature 182 independent living units, 56 assisted living units and 62 skilled nursing beds on a 32-acre neighborhood campus. Cain Brothers structured the bonds with a 4.25% coupon priced at a discount, and an all-in total interest cost of 4.46% and net present value savings on the advanced refunding portion of more than $1.5 million, or 6.4% of refunded par. Read More »
New bonds for North Carolina CCRCs

New bonds for North Carolina CCRCs

by | Jun 10, 2016 8:30 am | Financings

A not-for-profit owner of three CCRCs, totaling almost 1,000 units in North Carolina, recently refinanced all of its Series 2005 fixed rate bonds with the help of Ziegler. The United Methodist Retirement Homes (UMRH) has partnered with Life Care Services since 2000 to operate its three campuses, which include 622 independent living units, 108 assisted living units and 202 skilled nursing beds. To refinance the outstanding bonds, Ziegler closed a $34.485 million tax-exempt, fixed-rate bond issue, with an aggregate yield-to-maturity of 3.47%. That produces net present value savings of $8.91 million (or 22.47% of the principal amount of the refunded bonds). Davenport & Company served as a... Read More »
From Allen to Ziegler

From Allen to Ziegler

by | Apr 13, 2016 8:30 am | Developments, Financings

Ziegler just closed on a $26.2 million tax-exempt bond financing for Christian Care Centers (CCC), a not-for-profit based in Texas. CCC operates two retirement communities in Texas and is in the process of completing construction of a rental community in Allen, Texas, which will have 22 independent living units, 32 assisted living units and 36 memory care units. Read More »